Advertisements

Innovation Metrics – Part 3

13 08 2008

Innovation Metrics - Part 3

 

Innovation Metrics - Part 3

 

Continuing the thoughts on metrics.. 

3) The Three F’s – When beginning to consider innovation metrics – there are three main “F”’s that you need to measure – Form, Flow, and Function. 

    a. Form – Form is your ability to perform each part of the innovation process.

    b. Flow – Flow is your efficiency at both passing stuff through the individual elements of the process as well as the overall process itself.

    c. Function – Function looks at the program as a whole and its ability to achieve organizational goals, and the organization’s innovation capacity as a whole.

Taking the innovation process you’ve developed in section 2 (see last week’s post) above, you then go through the process figuring out what metrics are most appropriate taking into account the 3 F’s.  For most companies, the metrics will be broadly split into two sections – the form and flow of the pipeline itself – and the function of the program as a whole:

 

Innovation Metrics Worksheet - Form and Flow

Innovation Metrics Worksheet - Form and Flow

Some good examples of Form and Flow metrics: 

1) Problem Identification and Definition stage: 

  • Number of Problems submitted for consideration (form)
  • Number of individual event sponsors recruited (form) 
  • Number of Event Charters defined (form)
  • Number of Events accepted and set up  (flow)
  • Number of Events in each of the key corporate strategic areas (flow) 

2) Idea Collection, Building and Management 

  • Number of ideas/builds collected (form)
  • Number of Event Visitors / Contributors (form) 
  • Number of Idea/Build  Authors (form)
  • Number of ideas reviewed and concluded (flow)
  • Number of Ideas passed through to concept development (flow)

3) Concept/Opportunity Development

  • Number of Prototypes developed (form) 
  • Number of ideas going into Project Management (flow)
  • Potential value of ideas going to Project Management (flow) 
  • Average time idea spends in Concept Development (flow)

4) Project Management

  • Average time to project completion (form) 
  • Number of projects completed versus target (function)
  • Number of projects currently in the pipeline versus target (function)
  • Effective capacity versus capability (function)

5) Initial Launch

  • Target sales/cost reduction/process improvement versus actual (form)
  • Customer satisfaction (form)
  • Customer uptake versus local competitor/alternative (form)
  • Number of Launches proceeding to Expanded Launch (function)
  • Number of Launches failed (function)

6) Revise, Expand, and Re-Launch

  •  Contribution to profit margin from innovations

And for Innovation Function: 

Innovation Metrics Worksheet - Function

Innovation Metrics Worksheet - Function

Advertisements

Actions

Information

Please Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: